Hormel Foods Co. (NYSE:HRL) Shares Bought by Exencial Wealth Advisors LLC

Exencial Wealth Advisors LLC raised its stake in Hormel Foods Co. (NYSE:HRLGet Rating) by 57.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 219,674 shares of the company’s stock after buying an additional 80,497 shares during the quarter. Exencial Wealth Advisors LLC’s holdings in Hormel Foods were worth $10,722,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sandy Cove Advisors LLC acquired a new position in Hormel Foods in the fourth quarter valued at about $31,000. Whittier Trust Co. lifted its position in Hormel Foods by 61.5% in the fourth quarter. Whittier Trust Co. now owns 646 shares of the company’s stock valued at $32,000 after buying an additional 246 shares during the last quarter. Leverty Financial Group LLC acquired a new position in Hormel Foods in the fourth quarter valued at about $32,000. First Command Financial Services Inc. acquired a new stake in shares of Hormel Foods during the fourth quarter worth about $49,000. Finally, West Bancorporation Inc. purchased a new stake in shares of Hormel Foods during the fourth quarter worth approximately $49,000. 41.06% of the stock is currently owned by institutional investors.

Shares of HRL traded up $0.89 during mid-day trading on Friday, reaching $53.21. 1,404,772 shares of the company’s stock were exchanged, compared to its average volume of 1,673,739. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.19 and a quick ratio of 1.21. The stock has a market capitalization of $29.00 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 3.39 and a beta of 0.09. The business’s fifty day simple moving average is $51.81 and its 200-day simple moving average is $48.36. Hormel Foods Co. has a 52-week low of $40.48 and a 52-week high of $55.11.

Hormel Foods (NYSE:HRLGet Rating) last announced its earnings results on Tuesday, March 1st. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.92 billion. Hormel Foods had a net margin of 7.74% and a return on equity of 13.94%. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period last year, the firm posted $0.41 earnings per share. Equities research analysts predict that Hormel Foods Co. will post 1.93 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 16th. Stockholders of record on Monday, April 11th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, April 8th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.95%. Hormel Foods’s dividend payout ratio (DPR) is presently 61.54%.

In related news, VP Steven J. Lykken sold 16,000 shares of the stock in a transaction on Wednesday, March 23rd. The stock was sold at an average price of $50.18, for a total transaction of $802,880.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Swen Neufeldt sold 960 shares of the stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $51.82, for a total value of $49,747.20. Following the sale, the vice president now directly owns 23,332 shares of the company’s stock, valued at $1,209,064.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,636 shares of company stock worth $2,440,842. Insiders own 0.78% of the company’s stock.

HRL has been the topic of a number of recent research reports. StockNews.com initiated coverage on shares of Hormel Foods in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Piper Sandler upped their target price on shares of Hormel Foods from $48.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 2nd. Credit Suisse Group upped their target price on shares of Hormel Foods from $44.00 to $46.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 2nd. Argus upgraded shares of Hormel Foods from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Thursday, March 10th. Finally, JPMorgan Chase & Co. increased their price target on shares of Hormel Foods from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, March 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $48.86.

About Hormel Foods (Get Rating)

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and food products to retail, foodservice, deli, and commercial customers in the United States and internationally. The company operates through four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other.

Further Reading

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Institutional Ownership by Quarter for Hormel Foods (NYSE:HRL)

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